Elgethun Capital Management Decreases Position in Visa Inc. (V)

Elgethun Capital Management lowered its stake in Visa Inc. (NYSE:V) by 10.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,415 shares of the credit-card processor’s stock after selling 400 shares during the period. Elgethun Capital Management’s holdings in Visa were worth $320,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Investment Advisory Services LLC boosted its holdings in Visa by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock valued at $445,000 after purchasing an additional 20 shares during the period. Baker Ellis Asset Management LLC boosted its holdings in Visa by 0.3% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock valued at $587,000 after purchasing an additional 20 shares during the period. Washington Trust Bank boosted its holdings in Visa by 0.8% in the 2nd quarter. Washington Trust Bank now owns 3,895 shares of the credit-card processor’s stock valued at $365,000 after purchasing an additional 32 shares during the period. Lakeview Capital Partners LLC boosted its holdings in Visa by 0.8% in the 2nd quarter. Lakeview Capital Partners LLC now owns 4,283 shares of the credit-card processor’s stock valued at $402,000 after purchasing an additional 34 shares during the period. Finally, Aspen Investment Management Inc boosted its holdings in Visa by 0.4% in the 1st quarter. Aspen Investment Management Inc now owns 9,272 shares of the credit-card processor’s stock valued at $824,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.

V has been the subject of a number of recent research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $120.00 price objective on shares of Visa in a report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group boosted their price objective on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. UBS reissued an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Finally, Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $107.01 to $120.00 in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.14.

In related news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the transaction, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Shares of Visa Inc. (NYSE V) traded down $1.92 during trading on Monday, hitting $108.82. 8,714,776 shares of the stock were exchanged, compared to its average volume of 7,594,461. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $113.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $229,392.83, a P/E ratio of 31.82, a PEG ratio of 1.62 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. equities analysts predict that Visa Inc. will post 4.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.72%. This is a boost from Visa’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, November 16th. Visa’s dividend payout ratio is currently 27.86%.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

Institutional Ownership by Quarter for Visa (NYSE:V)

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